April 9, 2019
Do I have to do anything to start the deal (atomic swap)?
Create an order to buy or sell crypto. The deal will start automatically as soon as there is a matching order.
Atomic swaps require the deal to be executed on two blockchains. This guarantees the safety of each party’s funds.
But it makes atomic swap NON-instant, because blockchains sometimes are not that fast.
Since each significant action is being pushed to blockchains - parties need to make sure that transactions are actually confirmed in both blockchains before trusting them. This differes a lot from the instant exchange that we are used to at regular exchanges.
To prevent deals’ falsestart - UfoDex matcher blocks the initiation of new deals for a user that has just started a new atomic swap deal. As soon as funds for such deal are locked in the blockchain - any other parallel atomic swap can be started. The number and amounts of parallel deals are limited only by the amount of funds on your balance.